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CFOs role set to change drastically as companies go global

Source | The Hindu

The role of the CFO will drastically change as more companies become global.

“CFO’s need to be ready to deal with diverse global regulations, a changing culture and need to embrace technology for quantum improvement and start being value creators and not just value protectors, said Krishnakumar Natarajan, Executive Chairman, Mindtree, at the CII organised annual CFO Conclave.

S Subramaniam, CFO, Titan Company, said the role of a CFO has evolved from just a financial function to a function that provides organic and inorganic growth to the organisation. “The single biggest change to the function of a CFO is the adoption of technology and digital. The CFO now needs to have a deep understanding of IT to succeed in the role, in fact in many organisations around the world, CFOs now don the hat of CTOs as well,” he said.

B. G. Shenoy CFO, MTR Foods, pointed out that CFOs need to work closely with CEOs and have a deep understanding of business strategy. “The key metric to measure the success of a CFO is value addition to the business and adoption of technology,” he said.

According to Aithal Sachidananda, Sr. Director, Global Financial Centre, Honeywell, CFO’s now need to play the role of business advisors that prepare the organisation to deal with the constant changes to the business environment.

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